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Histroric Insurance with Mortgage

135

Comments

  • dunstonh
    dunstonh Posts: 120,390 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    No real resolution there. Not even an explanation. Don't blame you going to the FOS. I suspect given the weirdness, the FOS will not be that quick.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Cotta
    Cotta Posts: 3,667 Forumite
    dunstonh wrote: »
    No real resolution there. Not even an explanation. Don't blame you going to the FOS. I suspect given the weirdness, the FOS will not be that quick.

    The Ombudsman has suggested the £75 is too low for the time frame taken to respond but I'm not sure what to ask.

    The actual case is now with him.
  • Cotta
    Cotta Posts: 3,667 Forumite
    My Bank have came back to be asking what would be a suitable monetary value in order to close off that aspect of the complaint relating to the delay, these have advised on the following shortcomings and their current offer is £75. What would be a fair settlement vale?


    - It took over one year to receive a full response.
    - A large number of calls to the bank lasted over one hour with no progress made.
    - Bank failed to accept they sold the insurance until the complaint had been with them for 12 months.
    - Promised call backs from the bank never materialised.
    - "Numerous updates throughout the year were requested by the client" without anything of note being provided.
  • dunstonh
    dunstonh Posts: 120,390 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    FOS generally around £25-£100 for minor admin issues requiring one chaser. £250 where the firm has been downright difficult and towards £500 when they have been belligerent and taken years to sort.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Outsider_83
    Outsider_83 Posts: 166 Forumite
    dunstonh wrote: »
    FOS generally around £25-£100 for minor admin issues requiring one chaser. £250 where the firm has been downright difficult and towards £500 when they have been belligerent and taken years to sort.


    Sounds like £75 may be the maximum the OP can expect then as they were only delayed around 13 months?
  • Cotta
    Cotta Posts: 3,667 Forumite
    dunstonh wrote: »
    FOS generally around £25-£100 for minor admin issues requiring one chaser. £250 where the firm has been downright difficult and towards £500 when they have been belligerent and taken years to sort.

    13 months to get this far, quite a few chasers including being referred to third parties such as the insurance company only to be bounced back again. £75 does sound disappointing but I don't want anything more than is fair.
  • Outsider_83
    Outsider_83 Posts: 166 Forumite
    To be honest if the bank have ruled against you on your main complaint and are awarding you £75 in relation to their time taken to respond, you can be pretty sure this is as good as it will get, I would assume going to the Ombudsman will serve no purpose either.
  • Cotta
    Cotta Posts: 3,667 Forumite
    Annoyingly it appears you maybe right. A call from the bank there advised they are confident that £75 is more than fair and they will not been looking to improve upon their offer. They advised that I can refer this to the Ombudsman, however they are comfortable this is as far as this can go.
  • Outsider_83
    Outsider_83 Posts: 166 Forumite
    I'm not an expert but it looks like the end of the line.


    DunstonH maybe able to offer better advise but as for me you've nowhere to go with this one.
  • dunstonh
    dunstonh Posts: 120,390 Forumite
    Part of the Furniture 10,000 Posts Name Dropper Combo Breaker
    I would refer it to the FOS. Mainly as your complaint was not satisfied and they have given you an awful runaround.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
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